Ukraine's largest vertically-integrated mining and steel group Metinvest has secured a $1 billion five-year pre-export finance facility. The syndication was launched in September this year by five different banks, following the securing of a $850 million five-year amortizing loan for Metinvest in August.
Metinvest stated the facility will allow the company "to refinance existing loans extending their maturity at reduced rate of interest," while the facility will also be used for working capital, capital expenditure and general corporate purposes.